South-Eastern Asia: Cinnamon Market 2025

Cinnamon Market Size in South-Eastern Asia

The Southeast Asian cinnamon market reduced to $X in 2022, which is down by -5% against the previous year. Over the period under review, consumption, however, saw a buoyant increase. As a result, consumption reached the peak level of $X, and then dropped in the following year.

Cinnamon Production in South-Eastern Asia

In value terms, cinnamon production dropped modestly to $X in 2022 estimated in export price. Overall, production, however, posted resilient growth. The most prominent rate of growth was recorded in 2013 with an increase of 37% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

The countries with the highest volumes of production in 2022 were Vietnam (X tons) and Indonesia (X tons).

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the main producing countries, was attained by Vietnam (with a CAGR of +10.0%).

In 2022, the average yield of cinnamon (canella) in South-Eastern Asia declined modestly to X kg per ha, with a decrease of -3.9% against 2021. Over the period under review, the yield recorded a mild downturn. The growth pace was the most rapid in 2021 with an increase of 10% against the previous year. Over the period under review, the cinnamon yield hit record highs at X kg per ha in 2014; however, from 2015 to 2022, the yield stood at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the harvested area of cinnamon (canella) in South-Eastern Asia declined slightly to X ha, stabilizing at the previous year's figure. The harvested area increased at an average annual rate of +2.0% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2014 with an increase of 5.7% against the previous year. Over the period under review, the harvested area dedicated to cinnamon production attained the maximum at X ha in 2021, and then dropped in the following year.

Cinnamon Exports

Exports in South-Eastern Asia

In 2022, after five years of growth, there was significant decline in shipments abroad of cinnamon (canella), when their volume decreased by -8.7% to X tons. The total export volume increased at an average annual rate of +4.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 with an increase of 31% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2021, and then reduced in the following year.

In value terms, cinnamon exports declined to $X in 2022. Overall, exports, however, saw a prominent increase. The most prominent rate of growth was recorded in 2013 with an increase of 46%. The level of export peaked at $X in 2021, and then shrank in the following year.

Exports by Country

Vietnam was the largest exporter of cinnamon (canella) in South-Eastern Asia, with the volume of exports resulting at X tons, which was approx. 72% of total exports in 2022. It was distantly followed by Indonesia (X tons), making up a 27% share of total exports.

Vietnam was also the fastest-growing in terms of the cinnamon (canella) exports, with a CAGR of +13.3% from 2012 to 2022. Indonesia (-4.1%) illustrated a downward trend over the same period. Vietnam (+39 p.p.) significantly strengthened its position in terms of the total exports, while Indonesia saw its share reduced by -38.5% from 2012 to 2022, respectively.

In value terms, Vietnam ($X) and Indonesia ($X) appeared to be the countries with the highest levels of exports in 2022.

Vietnam, with a CAGR of +22.1%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review.

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2022, approximately equating the previous year. Over the period under review, the export price, however, enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2017 when the export price increased by 32% against the previous year. The level of export peaked at $X per ton in 2021, and then declined in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while Vietnam stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+16.1%).

Cinnamon Imports

Imports in South-Eastern Asia

In 2022, the amount of cinnamon (canella) imported in South-Eastern Asia shrank dramatically to X tons, dropping by -19.8% on the year before. Overall, imports, however, continue to indicate a resilient expansion. The pace of growth was the most pronounced in 2017 when imports increased by 67% against the previous year. The volume of import peaked at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, cinnamon imports plummeted to $X in 2022. In general, imports, however, continue to indicate a significant increase. The most prominent rate of growth was recorded in 2017 when imports increased by 112% against the previous year. The level of import peaked at $X in 2021, and then reduced rapidly in the following year.

Imports by Country

In 2022, Vietnam (X tons) was the main importer of cinnamon (canella), making up 63% of total imports. Malaysia (X tons) took a 14% share (based on physical terms) of total imports, which put it in second place, followed by Indonesia (9.9%) and Thailand (8.8%). Singapore (X tons) followed a long way behind the leaders.

Vietnam was also the fastest-growing in terms of the cinnamon (canella) imports, with a CAGR of +28.0% from 2012 to 2022. At the same time, Indonesia (+14.2%) and Malaysia (+5.5%) displayed positive paces of growth. By contrast, Singapore (-2.3%) and Thailand (-2.4%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Vietnam and Indonesia increased by +47 and +2 percentage points, respectively.

In value terms, Vietnam ($X) constitutes the largest market for imported cinnamon (canella) in South-Eastern Asia, comprising 67% of total imports. The second position in the ranking was taken by Malaysia ($X), with a 12% share of total imports. It was followed by Thailand, with a 9.2% share.

In Vietnam, cinnamon imports expanded at an average annual rate of +50.1% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Malaysia (+17.6% per year) and Thailand (+10.3% per year).

Import Prices by Country

In 2022, the import price in South-Eastern Asia amounted to $X per ton, increasing by 3% against the previous year. In general, the import price enjoyed a strong increase. The growth pace was the most rapid in 2017 when the import price increased by 27% against the previous year. The level of import peaked in 2022 and is likely to see steady growth in the immediate term.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Vietnam ($X per ton) and Thailand ($X per ton), while Singapore ($X per ton) and Indonesia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+17.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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